Hammarskiöld's arbitration specialists Andreas Johard and Adam Runestam have contributed to LexisNexis, a leading global provider of legal, regulatory and business information and analytics, chapter on “Understanding investment treaty arbitration”.
Summary of the article: The Svea Court of Appeal (Court of Appeal) and the Swedish Supreme Court (Supreme Court) rendered two separate but related landmark cases on 13 and 14 December 2022, declaring two intra-EU investment arbitration awards invalid as the awards contradict fundamental principles of EU law. The Supreme Court declared an intra-EU investment award invalid as it violated procedural ordre public (public policy). According to the Supreme Court, this applies regardless if the award is based on an ad hoc arbitration agreement or if the arbitration agreement is derived from a Bilateral Investment Treaty (BIT). The Court of Appeal found that an award under the Energy Charter Treaty (ECT) lacks arbitrability and the investment award in question was therefore declared invalid.
Read the full article here; Swedish Courts invalidate intra-EU investment awards in landmark cases
Link to the article in LexisNexis: https://www.lexisnexis.co.uk/legal/news/swedish-courts-invalidate-intra-eu-investment-awards-in-landmark-cases-pl-holdings-v-the-republic-of